Rental Rehabilitation Deferred Loan (RRDL)
Minnesota Housing
Minnesota
RRDL provides deferred loans at no interest to individuals, developers, nonprofits, units of government, and tribal housing corporations for the moderate rehabilitation of existing affordable permanent rental housing throughout Greater Minnesota. RRDL funds are available on a year-round basis and through targeted RRDL Request for Proposals. Owners may apply directly to Minnesota Housing for RRDL funds. Loan terms range from 10 to 30 years depending on the loan amount. Properties containing eight or more units may apply for loans where 10% of the loan amount is forgiven after the loan term has been met.
Contact
John Patterson
Minnesota Housing
[email protected]
651-296-0763
Other Eligibility Requirements
No other eligibility requirements
Eligibility Limitations
Does not limit eligibility on these criteria
Priority Populations
Does not prioritize beyond eligibility requirements
Total Funding
$9,486,000
Funding Source
General revenue
How Provided?
Development loans
Data Collected by Program
Income; Race